In 2020 the democratization of technology is considered one of the year’s top technology trends. Information, data, and communication can be exchanged easier than ever before. The distribution of knowledge and barriers to access have shifted drastically and as a result business has changed too.
Technology at work can be complicated. As business executives mull over the advantages and disadvantages of installing specialized software, various factors are considered in the cost-benefit analysis. Arguably, the most important effect to consider is how technology supports your team. PWC research found that 90% of C-Suite executives felt like they were making decisions related technology that reflected their staff’s needs but only about 53% of staff agreed.
Innovation is happening all around us at an exponential rate. One the trendiest technologies right now is Artificial Intelligence. AI has been an element of science fiction for many years, but it has now become a reality. Artificial Intelligence (AI) commonly comes across as a scary force but in reality, it’s a tool that has a place in businesses and everyday life. As technology gets more complicated it can become difficult to understand the practicality of some developments. Harnessing the potential of AI can be incredibly beneficial to property management companies as well.
The rise of the smart home came quickly. Just like any other amenity like swimming pools or gyms, a property equipped with smart technology increases the appeal and value to prospects. Giving customers the power to control their home from the comfort of their smartphone can set your service apart from competitors.
Integrated payment processors were once met with distrust and uncertainty by the general public, now the apprehension towards online payments is fading. In the U.S. e-commerce totaled over $146.2 billion by Q2 in 2019. Payment processors have grown in popularity because of the benefits and ease they offer both customers and businesses that physical cash and checks can’t.
Security and privacy are growing concerns for businesses, customers, and the general public alike. Implementing internal controls in your organization is an effective way of mitigating and monitoring potential security risks. As you decide what controls would work best for your business, consider these five main elements of internal controls.
Cybersecurity has become a prominent topic of conversation as a result of the ubiquity of technology and the importance of data. Exploring cybersecurity options and implementing best practices can help to fend off modern threats. Implementing thorough security processes can show customers that your business is, not only, prepared but less vulnerable to looming cyberattacks. Because data is now integral to how we operate as organizations and individuals, cybersecurity is essential to the well-being of your business.
As data has made its way online into the digital sphere, it’s essential for everyone, from businesses to consumers, to understand how to fortify sensitive data. Protecting vulnerabilities against threats enables businesses to continue to operate without compromising their employees or their customers.
A Chief Data Officer (CDO) is a relatively new C-Suite position that sometimes overlaps with responsibilities of a Chief Information Officer. Nearly 64% of leading corporations have hired a CDO since 2018. CDOs are growing in prominence and relevance in correlation with the growth and prominence of data in business. There is some variance in what businesses expect from their CDO, but the position indicates a shift in business stressing that data is an essential part of modern businesses and needs to be represented at the highest level.
Emerging trends are permanently changing the landscape of businesses. One of the most impactful developments is the significance of data which has led to the introduction of “business intelligence.” The impact of data is set to change the way business will be done, but business intelligence isn’t just data – it’s more than that.